Judge Perez Rules The Request to Turnover Circle Shares Under §542 is Improper and Procedurally Defective

Linqto, Inc. today announced that the United States Bankruptcy Court for the Southern District of Texas has denied consolidated motions for turnover of non-estate property in the Linqto, Inc. case. Judge Alfredo Perez ruled in favor of the Debtor and denied the request to turnover Circle shares under §542 as improper and procedurally defective.

The first in a series of customer motions on this topic were filed by Linqto promoter, customer and pro se litigant, Linda P. Jones in February 2026, seeking the return of alleged non-estate property. Linqto filed its opposition to this motion in March and May 2026.

The Debtors opposed the Turnover Motion, stating the issue of estate property was already decided, and they were joined in their opposition by the Unsecured Creditors Committee (UCC). Jones then moved to consolidate all pending customer motions seeking the return of Circle shares outside of the confirmed Plan process. The Court granted the Motion to Consolidate on March 27, 2026, and a hearing was held on this matter on June 22, 2026.

After taking the matter under advisement, the Court ruled against Linda P. Jones and denied the consolidated motions.

“Today’s ruling is a win for customers and creditors,” said Dan Siciliano, CEO of Linqto. “Linda P. Jones and her cohorts increased the cost of the bankruptcy to customers by seeking a resolution that had already been granted under the Court-approved Plan of Reorganization. Linqto and the UCC were obligated to defend the approved Plan and, in so doing, forced to incur significant legal costs responding to dozens of motions, preparing for hearings, and appearing in court. The Court’s ruling lets us refocus our full attention on resolving the remaining open issues and exiting from bankruptcy as quickly as possible.”

About Linqto

Linqto is a global investing platform designed to give accredited investors direct access to investments in private companies and unicorns. Linqto’s platform has historically provided customers with access to a range of pre-IPO companies. For more details, visit www.linqto.com.

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“Today’s ruling is a win for customers and creditors,” said Dan Siciliano, CEO of Linqto.